The Grimdex: 7

Building’s seven-strong Gloomwatch panel rate their mood from 0-10, with 10 the most unhappy. The average is that month’s “Grimdex” forecast

Home loans, house prices and mortgage completions were all up in June, but panel member Michael Ankers, chief executive of the Construction Products Association, wasn’t alone in brushing away positive signs.

The Grimdex rating of 7 is nearly as malcontent as May’s 7.5. It seems last month’s 5.9 was a bullish blip.